Responsible Homeownership Is The Buzz

By Lisa Udy • November 13th, 2009

Being a responsible homeowner is the buzz these days, and taking the steps to maintain your homes value has never been more important. There have been a lot of homeowners hit hard by the recession and the mistakes of many organizations. It’s time to fight back, it’s time to take back your neighborhood, and hold on to the equity you worked hard for.
Man, Woman, My House, Front Door, Family, Happy, Home, House, Do
Responsible homeowners are homeowners that maintain their homes to keep the neighborhood looking clean. Responsible homeowners know that what they do effects everyone in their market, as well as the value of their home.

People who own homes are much more likely to get involved in the community, homeowners vote more, and they care about their homes appearance. Being a homeowner is a great responsibility, but it also has some great benefits. Owning your own home is putting money towards your future.

Every payment you make is adding value to you, your family, and your future. It’s nice when owning a home works out this way, but lately we have hit a rocky road. There are a few things you can do to secure your home’s equity.

Before securing a home equity loan, be sure that you don’t borrow more then 80% of the equity you have in your home. If home values drop in your area, you may be left with a loan that you owe more then expected on. The only time I would go over is if you were doing renovations to the home itself. Just make sure you consult with a local REALTOR to ensure what your home improvements are going to add to or sustain the value of your home.

When you buy a home, expect to live their for at least 5 years. Buying a home and selling a year later is not going to be an effective use of your money anymore. Unless you are a house flipper, buying and selling homes fast is a thing of the past, especially if you put little to no money down.

Being responsible with home-ownership is the new way to buy homes. But it’s not a new exercise. We need to get back to the way it was before the market crash, before wall street, and before big government told us how to run our neighborhoods. If we can all be more responsible in our own lives, we will all benefit from a better community, and a better nation.

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